Risk management can be described as the process of measuring or assessing risk and then developing strategies to manage the risk. The strategies employed include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. Risk management in software project management begins with the business case for starting the project, which includes a cost-benefit analysis as well as a list of fallback options for project failure, called a contingency plan.
It is important because trying to identify things that can cause problems helps you to avoid those problems.
2. Explain the order of the risk management building blocks. Discuss what each training module provides as a foundation to prepare for the next building block.
Understanding the building blocks of fundamental knowledge in risk management will enable you to adapt to situations as they change and provide you the metal flexibility needed to respond to uncertainty. The following training modules provide risk management instruction:
a. Session 1: Risk management concepts.
b. Session 2: Risk assessment methods.
c. Session 3: Risk management processes.
d. Session 4: Risk management measures.
e. Session 5: Proactive risk management.
3. Describe the five themes for the progressive increments of risk management vocabulary. Which term from each increment best represents this theme? Discuss how each group of terms supports this theme.
Here are the vocabulary items for each theme:
a. Session 1: Risk management concepts.
Discussion: Crisis management, loss, rework, risk, and uncertainty.
Discussion: Creativity, opportunity, opportunity cost, problem preservation, risk control.
4. How can you determine the stage of learning your audience is in with respect to a given risk management training module? What is the likelihood that your students are in different stages of learning? How can you accommodate diverse abilities in a single classroom?
Using the Personal Software Process, individuals become competent in four stages of learning. Training material should be sensitive to the current learning stage of the target audience. If people understand that the stages of learning are normal and universal, they will be able to articulate the stage they can associate with. Trainers should begin at the stage and progress through the learning stages. The four stages are:
a. Unconscious inability.
b. Conscious inability.
c. Conscious ability
d. Unconscious ability.
5. Which instructional techniques do you prefer? List the techniques you will use to ensure that all your students will learn.
The different instructional techniques are as follows:
a. Contest, demonstration, game, project, and show.
b. Composition, demonstration, drill, quiz, recitation, and test.
c. Composition, lecture, project, report, and test
d. Discussion, game, group project, interaction, show, and simulation.
I prefer the second technique. It fits to my experience by using demonstrational and drilling concepts. I am a hands on learner and feel reinforcement is the best method of instruction.
6. Compare and contrast breadth and depth of training material. Give an example of each in risk management training.
As you develop training material, you must remember that people learn in different ways. Some people remember best by hearing, some by seeing, and some by doing. Individual learning preferences require different types of instructional methods. There are four categories of instructional techniques that are based upon a person’s reason for education.
a. Growth of spontaneity and freedom.
b. Growth of responsibility.
c. Growth of knowledge and skills.
d. Growth and identity.
7. Discuss the utility of training metrics. In your opinion, what is good training metric for high-quality instructor-to-student ratio?
Training metrics help you refine your training plan by applying rules of thumb. It is one thing to have an outline of the material to cover, but you need to go one step further, you need something that has your personal thoughts on the subject and something where you can make changes to on the fly. Lesson plans are great way to standardize training and ensure the material the needs to be covered is covered.
The training metric is a way to take the lesson plan and customize it to make it fit you teaching style and technique.
8. List five ways that you can add emotion to your voice when you speak.
Here are the five ways to add emotion to your voice:
a. Have something good to say.
b. Say it well.
c. Read your audience.
d. Use words with emotion.
e. Identify with your audience.
9. Do you think it is important to review student’s expectations at the end of training? Discuss why you do or do not think so.
When you begin training, ask the students what they hope to learn. Set appropriate expectations by reviewing this list and explaining what will and will not be covered. Periodically you can review these expectations to be sure that each topic will be covered by the end of the session. At the end of the session, review these expectations with your audience to show that each topic was addressed. Be sure to call for questions at the end of each training segment to encourage participation. It is important to have this information because it can help you refine the timing of your current presentation, as well as future training sessions. Training evaluations also help you improve future training sessions and monitor your performance.
10. Are you ready to manage risk? If so, how have you prepared to manage risk? If not, what will you need to be prepared?
At this point I have enough information to get a risk management program together. I am still a little fuzzy on what the actual content will be, however that is a difficult item to identify. Since every project is different it is almost impossible to have a standard risk analysis package as the material clearly indicates.
Part III - Chapter 11
1. Do you think risk management is important?
2. Explain the order of the risk management building blocks. Discuss what each training module provides as a foundation to prepare for the next building block.
3. Describe the five themes for the progressive increments of risk management vocabulary. Which term from each increment best represents this theme? Discuss how each group of terms supports this theme.
4. How can you determine the stage of learning your audience is in with respect to a given risk management training module? What is the likelihood that your students are in different stages of learning? How can you accommodate diverse abilities in a single classroom?
5. Which instructional techniques do you prefer? List the techniques you will use to ensure that all your students will learn.
6. Compare and contrast breadth and depth of training material. Give an example of each in risk management training.
7. Discuss the utility of training metrics. In your opinion, what is good training metric for high-quality instructor-to-student ratio?
8. List five ways that you can add emotion to your voice when you speak.
9. Do you think it is important to review student’s expectations at the end of training? Discuss why you do or do not think so.
10. Are you ready to manage risk? If so, how have you prepared to manage risk? If not, what will you need to be prepared?
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